Saudi Crude Shipments to China Poised to Fall in September
Saudi Arabia will ship lower volumes of its crude to China next month, down from a two-year-high this month, after the Kingdom raised its September prices to Asia for a second consecutive month, Reuters reported on Monday, quoting trade sources at Chinese refiners. Saudi Arabia, the world’s biggest crude oil exporter, is expected to deliver […]
The crude oil market bets Trump’s India threats are hollow
The crude oil market’s rather sanguine reaction to the U.S. threats to India over its continued purchases of Russian oil is effectively a bet that very little will actually happen. President Donald Trump cited India’s imports of Russian crude when imposing an additional 25% tariff on imports from India on August 6, which is due […]
Oil Prices Begin the Week Lower as Trump-Putin Meeting Looms
Crude oil prices extended their losing streak from last month, opening lower today on expectations that the Friday meeting between the presidents of Russia and the United States would yield a deal resulting in more oil supply. At the time of writing, Brent crude was trading at $66.24 per barrel, with West Texas Intermediate at […]
Indian refiners can do without Russian oil, but with trade-offs
Indian refiners, the world’s biggest user of Russian oil, can operate without supplies from Moscow from a technical standpoint, but the shift would involve major economic and strategic trade-offs, analysts said. Russian crude supports high distillate yields – the share of crude converted into fuels like petrol, diesel, and jet fuel through distillation. Replacing Russian […]
Govt to review petrol pump licensing norms
The government is considering further easing the norms for setting up petrol pumps in the world’s fastest-growing fuel market, in light of the evolving energy security paradigm and commitment to decarbonisation, according to an official order. The government had in 2019 relaxed the norms for setting up petrol pumps, opening the door for non-oil companies […]
No direction from govt to buy or stop Russian oil intake: HPCL
Amid higher US tariffs on India because of Russian oil, centre-owned Hindustan Petroleum Corp. Ltd. said that there is no direction from the government to buy or stop Russian oil intake. This comes after market speculations about state-owned oil refiners pulling back from purchases of Russian crude oil. However, chairman Vikas Kaushal said that the […]
India’s fuel bill may rise by $9 bn in FY26 and $12 bn in FY27, if it stops Russian oil imports: SBI
India’s crude oil import bill could increase by USD 9 billion to USD 12 billion, if the country stops buying Russian crude oil, according to a report by the State Bank of India (SBI). The report noted that if India halted oil imports from Russia for the rest of FY26, the fuel bill might increase […]
The key pillar of Russia’s war chest is cracking. The timing couldn’t be worse
In July, Russian President Vladimir Putin’s administration collected 787.3 billion rubles, or $9.8 billion, from oil and gas revenue — 27% lower than a year ago, according to the country’s finance ministry on Tuesday. The decline in energy tax revenue further strains Russia’s budget, which posted a deficit of 3.7 trillion rubles, or 1.7% of […]
Oil Prices Rise After Trump Targets India’s Imports
Oil prices ticked higher in early Thursday trading in Asia, buoyed by renewed trade tensions and a surprise decline in U.S. crude inventories. The modest rebound follows a rough week for crude, which had slumped to two-month lows on concerns over rising OPEC+ output and faltering global demand. At the time of writing, Brent crude […]
Oil Prices Inch Higher as Trump’s Trade Threats Counter Oversupply Fears
Oil prices were moving higher again early on Wednesday morning, recovering from oversupply fears that had driven them to five-month lows. The most recent rebound was driven by Trump’s escalating trade offensive against India over its continued imports of Russian crude. At the time of writing, Brent crude futures had risen to $68.10 per barrel […]